News

Tuesday 13 January, 2015

Employers encouraged to provide references

Employers encouraged to provide references

The FUND has seen an increase in the number of applications for retirement savings due to lack of proper employer references.

In October, the Operations Division reported more than 300 applications being queried after members failed to provide correct information in their employer references.

NASFUND said such issue was usually experienced by member who had worked in several companies, with the requirement that they collect all their past employer references when applying for a withdrawal.

The Superfund is encouraging contributing employers, through their payroll officers, to ensure that all members leaving employment (resignation, termination, retirement etc) are given an employer reference at the time of exit.

The document must be endorsed with the following details in the reference;

  • Date of started work;
  • Date started contributing to Nasfund;
  • Last date of payment made to Nasfund;
  • A copy of company ID card or photograph; and
  • Payroll number of the employee.

[Photo Caption: Members queuing at the Lae NASFUND service centre.]

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